BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which amongst the following organizations make major credit policies for the Regional Rural Banks (RRBs)?
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NABARD
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Asian Development Bank
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World Bank
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State Bank of India
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Explanation:
Detailed explanation-1: -NABARD functions as the supervisor of rural financial institutions (RFIs)-both regional rural banks (RRBs) and rural cooperative banks (RCBs)-by virtue of the powers conferred to it under Section 35 (6) of Banking Regulation Act, 1949 (AACS). 2.
Detailed explanation-2: -NABARD provides Co-operative Banks and Regional Rural Banks loans and advances, repayable on demand or on the expiry of fixed periods not exceeding 12 months, by way of refinance for production, marketing and procurement activities.
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